Real Estate Properties (Tables)

9 Months Ended

Sep. 30, 2023

Real Estate [Abstract]

Schedule of disposition activities

Date of Sale	Number of Properties	Location	Rentable Square Feet	Gross Sales Price(1)		Gain (Loss) on Sale of Real Estate
January 2023	3	Richmond, VA	89,000	$	5,350	$	2,548
April 2023	1	Phoenix, AZ	107,000	4,900		511
June 2023	1	Vernon Hills, IL	100,000	2,825		(2,816)
September 2023	1	Windsor Mill, MD	80,000	10,500		244
	6		376,000	$	23,575	$	487

(1)Gross sales price is the gross contract price, excluding closing costs.

Schedule of joint ventures

As of September 30, 2023 and December 31, 2022, our investments in unconsolidated joint ventures consisted of the following:

		OPI Carrying Value of Investments at
Joint Venture	OPI Ownership	September 30, 2023		December 31, 2022		Number of Properties	Location	Rentable Square Feet
Prosperity Metro Plaza	51%	$	18,455	$	19,237	2	Fairfax, VA	329,000
1750 H Street, NW	50%	18,147		15,892		1	Washington, D.C.	122,000
Total		$	36,602	$	35,129	3		451,000

The following table provides a summary of the mortgage debt of our two unconsolidated joint ventures:

Joint Venture	Interest Rate (1)	Maturity Date	Principal Balance at September 30, 2023 and December 31, 2022 (2)
Prosperity Metro Plaza	4.09%	12/1/2029	$	50,000
1750 H Street, NW (3)	3.69%	8/1/2027	32,000
Weighted Average / Total	3.93%		$	82,000

(1)Includes the effect of mark to market purchase accounting.

(2)Reflects the entire balance of the debt secured by the properties and is not adjusted to reflect the interests in the joint ventures we do not own. None of the debt is recourse to us.

(3)In July 2023, the maturity date of this mortgage loan was extended by three years at the same interest rate.